Economy

• Thursday, September 23rd 2010 - 04:04 UTC

  Argentine main business sectors reject unions’ supervised profit-sharing bill

  

  Argentina leading business associations representing agriculture, industry, banking and construction sectors rejected point blank the bill out lined by a Kirchnerite lawmaker for the distribution of company profits among workers and employees.

• Thursday, September 23rd 2010 - 02:01 UTC

  Head of the US 700 billion USD bail-out program steps down

  

  The US Treasury Department official in charge of overseeing the government's Troubled Asset Relief Program (Tarp) is stepping down. Herb Allison said that he was resigning now that the US bail-out programme was winding down.

• Thursday, September 23rd 2010 - 00:25 UTC

  Singapore based group takes over New Zealand dairy farms in Uruguay

  

  Singapore-based Olam International has successfully gained control of NZX-listed NZ Farming Systems Uruguay. As part of the takeover bid Olam offered 70c a share for all shares, valuing NZ Farming Systems at 171 million NZ dollars, conditional on getting more than half the shares.

• Thursday, September 23rd 2010 - 00:16 UTC

  EU confident of a trade deal with Mercosur; talks next month in Brussels

  

  In anticipation of a new round of Mercosur/European Union trade talks to take place in Brussels, EU Trade Commissioner Karel De Gucht confirmed he remained hopeful a deal could be struck in the coming twelve months, following the recent experience with South Korea.

• Wednesday, September 22nd 2010 - 16:16 UTC

  Russia bars beef imports from four Brazilian and one Argentine plants

  

  Brazil’s JBS S.A., one of the world’s leading exporters of beef said late Wednesday that Russian authorities told the company that several of its meat plants have been barred from exporting product to Russia.

• Wednesday, September 22nd 2010 - 07:39 UTC

  Brazil’s central bank buys 5.9 billion USD to contain revaluation of the Real

  

  Brazilian central bank President Henrique Meirelles stepped up dollar purchases to the highest in almost a year this month in a bid to temper gains in the Real.

• Wednesday, September 22nd 2010 - 07:35 UTC

  Fed anticipates modest US growth and is prepared to provide further support

  

  Admitting that employment and output recovery has slowed down in recent months, the US Federal Reserve said on Tuesday that it is prepared to provide additional accommodation if needed to support the economic recovery and to return inflation, over time, to levels consistent with its mandate.

• Wednesday, September 22nd 2010 - 07:32 UTC

  US behind Brazil, China and India as preferred place to invest, says Bloomberg

  

  The United States has fallen behind emerging markets Brazil, China and India as the preferred place to invest, according to a survey from Bloomberg. The US ranked first three months ago in the last quarterly Bloomberg Global Poll.

• Wednesday, September 22nd 2010 - 07:29 UTC

  Argentina’s most populous province ready to return to international bond market

  

  Argentina’s most populous province is preparing a return to international bond markets to benefit from the lowest borrowing costs in two years. Buenos Aires province hired Bank of America and Deutsche Bank AG to arrange investor meetings in Europe and the US as it plans to sell 500 million US dollars in debt.

• Wednesday, September 22nd 2010 - 02:01 UTC

  Overhaul of Obama’s economic team continues: Summers returns to Harvard

  

  The White House announced Tuesday that, director of the National Economic Council will leave the administration of President Barack Obama and return to Harvard University at the end of the year.